Sorting out your finances after separation or divorce can feel intimidating; yet the choices you make will have a significant impact on your future financial well-being. According to research from Zurich people who are divorced or separated are far less likely to have any savings or investments compared to married people.
So, how could you move forwards and plan your finances? Creating a new budget to keep essentials paid and up to date. Setting up a budget sheet could help you identify outgoings compared to income and perhaps highlight ways to make some savings. Other areas you could review are your credit score, confirming your credit record could help protect your current score for the future. You could revise your Will and pension plans, close any joint accounts and look at any protection cover that might be right for you. Seeking professional financial advice could help you to make your future financial plans.
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